The past decade has witnessed an increasing adoption of Cryptocurrency. From a small niche among a small group of early adopters to a worldwide phenomenon with millions of users, crypto is playing an increasingly focal role in industries around the globe. New digital assets and currencies promise multiple advantages over Fiat money in the form of decentralization, increased transparency and efficiency.
But do cryptocurrencies and tokens hold value? and Why?
A medium of exchange is a material, object, or substance that is used to acquire goods and services. It is an intermediary instrument or system used to facilitate the sale or trade of goods between parties. In legacy economies, the medium of exchange is mainly a fiat currency. However, this is changing with people adopting and using cryptocurrencies. As more people are adopting cryptocurrencies, they are becoming mainstream mediums of exchange. People can now purchase goods and property, use services and trade valuables all with crypto tokens and assets. Adoption of cryptocurrencies as mediums of exchange gives them the property of storing value.
How will the crypto industry evolve by 2025?
By 2025, the world will be moving further in the direction of a paperless society. With the help of technology such as pay apps on phones and other personal devices, the trend will only grow in favor of digital currencies.
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